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Greece Struggles to Solve Economic Mess

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저작자 미상 (저작물 2267374 건)

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2012-02-07

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With Monday's deadline for agreement on the terms of a 130 billion euro bailout plan slipped by‚ Greek political leaders need to quickly hammer out a deal on painful reforms.
They are due to try again on Tuesday to resolve disagreements over additional job and salary cuts‚ as well as pension reforms and tougher tax enforcement.
[Interview : Evangelos Venizelos‚ Greek Finance Minister] "The negotiations are so tough that as soon as one chapter closes another opens."
The Greek finance minister was speaking after meetings with officials from the European Union‚ International Monetary Fund‚ and European Central Bank.
The majority of three coalition parties and Greece's main unions and business federations say the austerity measures would be disastrous for Greece.
[Interview : George Kavathas‚ Vice President
General Confederation of Craftsmen and Merchants] "It will lead to the poverty of Greek citizens‚ it is suicide."
The Greek economy has been in recession for years and analysts say Greek politicians are resisiting further austerity measures ahead of parliamentary elections expected to take place as early as April.
France and Germany are adamant that Greece will have to accept the terms for a new EU and IMF rescue plan.
[Interview : Nicolas Sarkozy‚ French President] "We refuse to imagine a Greek bankruptcy. We have been working‚ Mrs Merkel and myself‚ hand in hand for months to avoid this bankrupty."
The latest developments intensify worries that a default could force Greece out of the euro currency union and send shockwaves through the global financial system.
Ji Myung-kil‚ Arirang News.
Reporter : mkji@arirang.co.kr

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